United Insurance Holdings Corp. (UIHC) Stake Boosted by Principal Financial Group Inc.

Principal Financial Group Inc. lifted its holdings in United Insurance Holdings Corp. (NASDAQ:UIHC) by 1.2% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 136,561 shares of the insurance provider’s stock after acquiring an additional 1,643 shares during the period. Principal Financial Group Inc. owned 0.64% of United Insurance Holdings Corp. worth $2,148,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in shares of United Insurance Holdings Corp. by 9.6% in the first quarter. Vanguard Group Inc. now owns 941,974 shares of the insurance provider’s stock worth $15,025,000 after acquiring an additional 82,222 shares during the period. Globeflex Capital L P bought a new position in shares of United Insurance Holdings Corp. in the first quarter worth about $532,000. Investment Management of Virginia LLC boosted its stake in shares of United Insurance Holdings Corp. by 41.4% in the second quarter. Investment Management of Virginia LLC now owns 75,290 shares of the insurance provider’s stock worth $1,184,000 after acquiring an additional 22,045 shares during the period. State of Tennessee Treasury Department boosted its stake in shares of United Insurance Holdings Corp. by 17.8% in the first quarter. State of Tennessee Treasury Department now owns 15,198 shares of the insurance provider’s stock worth $242,000 after acquiring an additional 2,294 shares during the period. Finally, Texas Permanent School Fund boosted its stake in shares of United Insurance Holdings Corp. by 2.0% in the second quarter. Texas Permanent School Fund now owns 13,108 shares of the insurance provider’s stock worth $206,000 after acquiring an additional 256 shares during the period. 29.32% of the stock is owned by hedge funds and other institutional investors.

A number of equities analysts have recently weighed in on UIHC shares. BidaskClub raised United Insurance Holdings Corp. from a “sell” rating to a “hold” rating in a research note on Friday, August 11th. Zacks Investment Research raised United Insurance Holdings Corp. from a “sell” rating to a “hold” rating in a research note on Saturday, August 12th. ValuEngine raised United Insurance Holdings Corp. from a “sell” rating to a “hold” rating in a research note on Wednesday, June 14th. Wells Fargo & Company reaffirmed a “buy” rating on shares of United Insurance Holdings Corp. in a research note on Wednesday, August 9th. Finally, JMP Securities raised United Insurance Holdings Corp. from an “underperform” rating to a “market perform” rating in a research note on Wednesday, August 9th. One analyst has rated the stock with a sell rating, three have given a hold rating, two have assigned a buy rating and two have assigned a strong buy rating to the stock. United Insurance Holdings Corp. presently has a consensus rating of “Buy” and a consensus price target of $15.25.

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United Insurance Holdings Corp. (UIHC) opened at 16.14 on Friday. The company has a market cap of $686.55 million, a price-to-earnings ratio of 106.89 and a beta of 1.59. The stock has a 50 day moving average price of $15.91 and a 200-day moving average price of $15.78. United Insurance Holdings Corp. has a 1-year low of $9.52 and a 1-year high of $17.81.

United Insurance Holdings Corp. Company Profile

United Insurance Holdings Corp. is a property and casualty insurance holding company that sources, writes and services residential property and casualty insurance policies using a network of agents and a group of insurance subsidiaries. The Company’s insurance subsidiary is United Property & Casualty Insurance Company.

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Institutional Ownership by Quarter for United Insurance Holdings Corp. (NASDAQ:UIHC)

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